Loan origination system interface for online loan application processing

ABSTRACT

A loan origination system interface module, methods and computer program products. One computer program product for processing loan application data including instructions to extract loan application data including retrieving identification information for a loan application associated the loan application data from a broker device and displaying on the broker device a list of loan applications available to process in an interface that is consistent with a loan origination computer program associated with the broker device. In response to command input from the broker device selecting a loan application from the list of loan applications, the computer program product includes instructions to reformat loan application data for the selected loan application to a format compatible with that required by a lender device and transmit reformatted loan application data to a lender device.

CROSS-REFERENCE

This application is a continuation of U.S. application Ser. No.10/222,637, entitled “Loan Origination System Interface for Online LoanApplication Processing,” filed on Aug. 15, 2002; and is related to U.S.application Ser. No. 10/172,844, entitled “Online System for FulfillingLoan Applications from Loan Originators,” filed on Jun. 14, 2002. Thedisclosures of said applications are incorporated herein by reference.

FIELD OF THE INVENTION

The present invention relates generally to computer networks, and morespecifically, to a web-based interface between lenders and loan brokersusing loan origination system software.

BACKGROUND

The World Wide Web (“web”) has evolved from first generation web systemsthat simply provided information to client computers over the Internetthrough a web browser program, to second generation systems usingapplication servers that provide dynamic, personalized information andpowerful back-end transaction processing.

A great number of commercial applications have become adapted to on-linesystems, thus establishing a base of many different types of electroniccommerce or “e-commerce” transactions. One traditional commercialtransaction type that has become adapted to online implementations isthat of financial loans. The loan application process is often acomplicated and confusing process for average borrowers. There are agreat many different types of loans available depending upon the type ofloan required, such as personal loans, home mortgages, business lines ofcredit, and so on. There are also many different variables or negotiableterms associated with each loan, such as interest rate, loan period, andthe like. In most cases, a detailed profile of the borrower is requiredbecause factors such as age, employment, financial history, creditrating and so on, can have a great deal of impact on the cost or evenqualification for a loan. Moreover, loans are available from manydifferent sources, such as traditional banks to private and commercialmoney lenders.

Thus, the process of applying for and obtaining a loan can becomplicated and time consuming because of the great number of variablesregarding the loan, the lender, and the borrower, as well as the numberof parties involved in the loan process. Because of the distributedinformation-intensive nature of the loan industry, a class of loanbrokers, often referred to as “loan originators” or “loan originationservices” has emerged to aid borrowers in finding and obtaining theproper loan. The advent of loan originators has served to provide animportant interface between borrowers and the various lenders who mighthave an appropriate loan product.

The widespread use of the Internet has generally led loan originators torecognize and accept the Internet and computerized processes as viableand promising vehicles with which to conduct business. Traditional loanprocessing involves a great deal of customer support, data input, andexpedited mailing and delivery of physical documents. These factorspresent areas of great cost and potential problems in the loanapplication, processing, and delivery transaction. Although most presentloan originators have implemented software systems to automate theirprocesses, typical loan origination systems (LOS) do not provide acomprehensive interface between borrowers and lenders. Furthermore, mostpresent loan origination systems do not provide comprehensive form anddocument completion process that truly automates the loan applicationprocess and minimizes the errors associated with individually completingall of the separate forms required in a typical loan transaction. Afurther disadvantage associated with present on-line implemented loanapplication systems is the typically complex loan file export and manualform population process that is required on the lender and loanorigination vendor web sites.

Although comprehensive software systems have been developed to integratelender, broker, and third party vendors within Internet-based loanapplication and fulfillment networks, such systems often involveextensive interfacing or customization of each party's computernetworks. For example, present systems typically require that eachindividual lenders or third parties install application interfaces orcustom components that render their network portal computers compatiblewith certain specific broker computer systems or commercially availableloan origination system program. Such a requirement is often burdensometo the lenders and third parties. These systems also present potentialsources of problems, and can often require redundant storage ortransmission of existing data.

What is needed, therefore, is a loan processing system that provides anefficient interface between lender computers and broker computers thataccesses data and resources already available on the broker computersystem.

What is further needed is a web-based interface that transfers data froma lender computer network to a broker network without requiring thelender to install extensive programs or program interfaces.

SUMMARY

A web-based loan origination system interface for on-line lenders andloan brokers is described. Data comprising borrower and loan productinformation is stored in data storage accessible to a loan originationsystem program. The loan origination system and a web browser processare executed by a loan broker computer. A lender computer coupled to theloan broker computer executes a web server process and a module thatserves to access data from the loan origination system program. The loanoriginator accesses the lender web site to perform loan processingprocedures. The module is included on the lender's web site as areference link. The module contains information unique to the lender,such as the lender's identification number and the lender's desired dataformat. Once the loan originator decides to transfer a loan applicationor supplemental data to the lender, the module examines the loanorigination software pipeline and presents it to the loan originator.When the loan originator selects an action to be performed, the moduleextracts loan information stored in the loan origination software byconducting a search for each required data field, relates that data tothe specific field in the vendor application format, and packages thedata in a format acceptable to the lender. The module then finds theappropriate route to deliver the loan data to the lender, eitherdirectly through a standard Internet secure communication protocol, orindirectly through a separate server computer. The loan originator canthen continue the transaction on the lender's web site in anuninterrupted work flow. Loan processing occurs on the lender's website, and the interaction of the web site and loan origination softwareis handled by the module.

In one embodiment, the loan origination system interface is implementedin a computer network that comprises a processing and submission systemthat receives relevant loan information from a borrower and enters thisinformation into file templates, which are utilized during loanorigination. An automatic data flow process accessible through anorigination screen populates the relevant fields in all of the otherloan forms and word processing documents. Forms are supported forseveral different loan types, such as conventional mortgages, federalhousing authority loans, veterans administration loans, and othersimilar types of personal and business loans. The automatic data floweliminates the need to re-enter the same information in each form, andit also automatically calculates relevant field data, such as percentagerate, maximum loan, cash to or from borrower, amortization schedules,and the like. Once information is entered into each data field, e.g.,name and address, of the file template during the loan originationprocess, the information is saved in a database wherein each data fieldis associated with the particular information entered. When a particularloan form is activated, the automatic data flow program conducts asearch for each data field. Alternatively, each loan form can bemodified to insert embedded codes, so that the computer program can moreeasily identify the location of a data field and enter the associatedinformation.

Other objects, features, and advantages of the present invention will beapparent from the accompanying drawings and from the detaileddescription that follows below.

DESCRIPTION OF DRAWINGS

The present invention is illustrated by way of example and notlimitation in the figures of the accompanying drawings, in which likereferences indicate similar elements, and in which:

FIG. 1A illustrates a network that implements a web-based loanorigination system interface between a loan broker web client and alender web server, according to one embodiment of the present invention;

FIG. 1B illustrates the interface between the loan processing softwaresystem and one or more loan origination systems, according to oneembodiment of the present invention;

FIG. 2A is a flowchart that illustrates the general steps of processinga loan application through the system illustrated in FIG. 1A, accordingto a method of the present invention;

FIG. 2B is a flowchart that illustrates the transaction steps betweenthe web server process of the lender computer, and the web clientprocess of the broker computer for the system illustrated in FIG. 1A,according to a method of the present invention;

FIG. 3A is an exemplary web page for a lender web site displaying a loanpipeline, according to one embodiment of the present invention;

FIG. 3B is an exemplary web page for a loan submission through a lendercomputer, according to one embodiment of the present invention;

FIG. 4 is a flowchart illustrating the steps of providing an interfacebetween loan origination servers and lender computers, according to amethod of the present invention;

FIG. 5 is a flowchart illustrating the steps of providing an interfacebetween loan origination servers and lender computers according to thesteps illustrated in FIG. 4; and

FIG. 6 illustrates a network that implements a loan processing softwaresystem, and that includes both a web-based loan origination systeminterface and a server-implemented loan application system, according toone embodiment of the present invention.

DETAILED DESCRIPTION

A web-based loan origination system interface for brokers and lenderscomputer networks is described. In the following description, forpurposes of explanation, numerous specific details are set forth inorder to provide a thorough understanding of the present invention. Itwill be evident, however, to one of ordinary skill in the art, that thepresent invention may be practiced without these specific details. Inother instances, well-known structures and devices are shown in blockdiagram form to facilitate explanation. The description of preferredembodiments is not intended to limit the scope of the claims appendedhereto.

Aspects of the present invention may be implemented on one or morecomputers executing software instructions. According to one embodimentof the present invention, server and client computer systems transmitand receive data over a computer network or a fiber or copper-basedtelecommunications network. The steps of accessing, downloading, andmanipulating the data, as well as other aspects of the present inventionare implemented by central processing units (CPU) in the server andclient computers executing sequences of instructions stored in a memory.The memory may be a random access memory (RAM), read-only memory (ROM),a persistent store, such as a mass storage device, or any combination ofthese devices. Execution of the sequences of instructions causes the CPUto perform steps according to embodiments of the present invention.

The instructions may be loaded into the memory of the server or clientcomputers from a storage device or from one or more other computersystems over a network connection. For example, a client computer maytransmit a sequence of instructions to the server computer in responseto a message transmitted to the client over a network by the server. Asthe server receives the instructions over the network connection, itstores the instructions in memory. The server may store the instructionsfor later execution, or it may execute the instructions as they arriveover the network connection. In some cases, the downloaded instructionsmay be directly supported by the CPU. In other cases, the instructionsmay not be directly executable by the CPU, and may instead be executedby an interpreter that interprets the instructions. In otherembodiments, hardwired circuitry may be used in place of, or incombination with, software instructions to implement the presentinvention. Thus, the present invention is not limited to any specificcombination of hardware circuitry and software, nor to any particularsource for the instructions executed by the server or client computers.In some instances, the client and server functionality may beimplemented on a single computer platform.

Aspects of the present invention can be used in a distributed electroniccommerce application that includes a client/server network system thatlinks one or more server computers to one or more client computers, aswell as server computers to other server computers and client computersto other client computers. The client and server computers may beimplemented as desktop personal computers, workstation computers, mobilecomputers, portable computing devices, personal digital assistant (PDA)devices, or any other similar type of computing device.

In the loan application process, a broker matches a borrower (customer)with the loan package that best suits their need. Unlike the retail loanmarket, in which the borrower directly inquires about loans availablefrom a bank or commercial lender, the loan broker utilizes the wholesaleloan market. In terms of a general process, the broker obtains data fromthe borrower and then shops for loans from the available sources in thewholesale loan market. Wholesale lenders typically work only withbrokers, and take completed loan packages and underwrite them. Thebrokers are typically offered discounted pricing in return for theprocessing work performed by the broker.

In a network embodiment of the present invention, a loan broker computeris configured to access computers operated by third parties (typicallyin the wholesale loan market), such as lenders, loan underwriters,settlement service vendors, and other similar loan fulfillment partiesthrough a web-based interface that is integrated with a loan originationsoftware program. The loan broker provides an on-line interface betweenborrowers, and those companies that will ultimately perform the loanservices and provide the requested funds. During the course of the loanapplication process, various items of information are transmitted amongthe parties, including borrower information and loan application data.This information is typically maintained in databases stored in thebroker computer, or on the third party computers. Different entities maybe responsible for different aspects of the transaction from thelender's side. For example, one company may be involved in theprocessing of a loan application, while another is involved withproviding the loan itself, while yet another may be involved with thebilling and collection of repayment from the borrower.

The network implementation facilitates the delivery (transmission) andtracking of data and allows for the completion of electronic commercetransactions. Several different network topologies may be implementedthrough the use of a loan processing network system according toembodiments of the present invention. In general, the network systemcouples one or more lenders (banks, financial institutions, creditagencies, and so on) to the loan brokers who act on behalf of potentialborrowers. The loan brokers help borrowers to find and obtain loans byobtaining personal data from the borrower, searching for compatibleloans from the various lenders, presenting loan selections to theborrower, and performing certain validation or screening tasks, such aspre-qualification of the borrower. The loan brokers also directlyinterface with the parties that will fulfill the loan or providesettlement services, such as lenders, loan underwriters, and settlementservice vendors.

A broker typically keeps track of pending loans and customers throughone or more pipelines. A pipeline generally refers to a list of allloans or loan applications and/or borrowers that are committed and beingprocessed by the broker. A separate pipeline, often referred to as a“pre-qualification pipeline” can be used to list prospective loansand/or borrowers who are not yet committed to a particular loan.

For purposes of the present discussion, a lender can be any kind ofwholesale lender, retail lender, correspondent lender, or other type offinancial institution that lends money. A loan originator is any personor entity that helps to procure a loan from a lender on behalf of aborrower, and can include loan brokers, loan officers, loan processors,correspondent brokers, small banks that provide brokerage services, andany other similar type of loan procurement company or personnel. As usedherein, the term “loan broker” is used to represent any such type ofloan originator.

Loan brokers typically execute Loan Origination Software (LOS) programsto manage the origination tasks in the loan application process for aborrower. In one embodiment of the present invention, a processing andsubmission system is embedded in the broker computer system and isclosely coupled to or integrated within the loan origination systemprogram on the broker desktop. This integration serves to streamline theloan submission process and provides seamless connectivity to lendersand settlement service vendors over the network. The processing andsubmission system provides a direct interface to the loan originationsystem programs and allows efficient management and transmission of filedata present in the broker loan origination software to the lender andvendor computer systems. The processing and submission system thusprovides a centralized and comprehensive system for compiling the loanand borrower information, populating the loan documents with therelevant data, and submitting the completed documents to the appropriatelender and other third parties for review. This allows the broker tocapture the borrower data once and publish this data to multiple lenderswithout having to repeatedly enter the borrower data for each loanapplication.

With the advent of the Internet, there has arisen a prevalence ofweb-based client/server networks involving the transmission of datathrough web pages served on server web sites accessed by clientcomputers. Embodiments of the present invention include web-basedinterfaces and data transmission routines that facilitate the processingof loan applications between loan originators (brokers) and lenders overthe Internet. FIG. 1A illustrates a network that implements a web-basedloan origination system interface between a loan broker web client and alender web server, according to one embodiment of the present invention.In system 100, a loan broker computer 102 executes a web browser program(such as Microsoft Explorer™ or Netscape Navigator™) 106 that accesses aweb page served by a web server process 112 executed on a lendercomputer 104. The loan broker computer 102 also executes one or moreloan origination system (LOS) programs 108. The loan originationsoftware program 108 utilized by the loan broker can be a proprietarysystem or a commercially available system. Examples of presentcommercially available loan origination system programs includeGenesis™, Contour™, Calyx Point™, and Byte™ among other similar LOSprograms.

As shown in FIG. 1A, the lender 104 maintains a web site through webserver process 112 that provides access for brokers and other loanoriginators to the various resources and products available from thelender. This allows loan originators and other users to access thelenders web site through a standard web browser interface. A loanorigination system program interface, referred to herein as the“clickloan module” 114 is integrated into the lender web site through aweb-based plug-in interface to web server process 112. The clickloanmodule 114 interfaces with the loan origination system software that isexecuted by the loan broker computer 102. The clickloan module 114automatically identifies and transfers a loan application or itsrequired information directly from the loan origination system program108 to the lender web site with a minimum number of user operations,e.g., typewritten commands or mouse clicks. This process eliminates theneed for the user (broker) to transfer the loan application and therelevant data directly to the lender computer. Data comprising borrowerand/or loan information is stored in a data storage 110 that is closelyor remotely coupled to the loan broker computer 102 through the loanorigination system program 108.

The clickloan module 114 stores and processes information regarding thelender loan products, as well as account and network identification.Access to the clickloan module is typically provided by means of ahypertext link, or similar command mechanism, displayed on the lender'sweb page. Upon execution, the clickloan module provides the relevantlender information, and accesses the loan application and borrower datafrom the data source 110 through the loan origination system 108. Thisinformation is then formatted and displayed to the broker through thelender web page and displayed using the web browser 106 on the brokercomputer 102. In this manner, data that is resident on the brokercomputer is used to build the information requested by the user. Thismechanism eliminates typical complex loan file export functions and formpopulation operations involved in most present on-line loan applicationsystems.

Although not shown in FIG. 1A, either or both of the loan brokercomputer 102 and the lender computer 104 can be directly or indirectlycoupled to computers operated by other relevant parties, such as loanunderwriters, settlement service vendors, or other third parties thatperform the function of fulfilling and settling the loan application. Aseparate server computer 116 may be used to download one or more programcomponents to the loan broker computer 102 for use by the loanorigination system program 108 and/or the clickloan module 114.

FIG. 1B illustrates the interface between the embedded clickloan moduleand one or more loan origination systems, according to one embodiment ofthe present invention. The clickloan module 123 is closely coupled tothe lender web site 122. The clickloan module 123 includes a loanselection sub-module 124 and a loan processing sub-module 126. One ormore loan origination system programs are coupled to the loan selectionsub-module 124. The loan selection sub-module accesses and displays alist of loan applications (borrower files) that the loan broker may wantto submit to a specific function on the lender web site. Once theappropriate loan application file has been selected, the loan processingsub-module 126 performs the appropriate calculations and processing toextract, validate, format, and submit the loan application to the lenderweb site.

The loan origination system programs illustrated in FIG. 1B includeGenesis 125, Contour 127, and Calyx 129, although other loan originationsystem programs are also possible. The clickloan module 123 interfacesto each LOS programs through direct data structure access, anapplication programming interface (API), or similar type of programadapter. Furthermore, each LOS program contains or is coupled to arespective data source 135, 137, and 139. Upon initiation by the broker,the clickloan API interfaces within the respective LOS programs operateto transfer data from the LOS program to the clickloan module 123resident on the lender web site 122. This prevents the need for thebroker to enter this information directly into the lender web site 122.In this manner, the relevant loan application is “pulled” from the LOSprogram to the lender web site. The integration within the lender's website eliminates the need for the lender to implement or otherwiseclosely couple itself to the loan origination system server (e.g., loanbroker computer 102). For the embodiment in which the clickloan moduleis configured to utilize an existing API, the pipeline information canbe displayed in a format consistent with the LOS program. This allowsthe module to preserve the “look and feel” of the original LOS program.

In one embodiment of the present invention, the loan origination systemprograms of system 150 can be included within the loan broker desktopenvironment of the loan originator computer, or they may compriseremotely executed programs executed on the broker computer or a separatenetworked computer, e.g., server 116 of system 100. In general, the loanorigination programs serve a loan origination screen to be accessed byborrowers over a network, and typically through a web browser interface.File templates, which serve as blank loan application forms, are thenloaded and displayed to the borrower. These are loaded from a databaseof file templates that are stored either locally on the loan originatorcomputer or on a remote storage device, such as data storage 110.Various file templates can be defined for different loan types, such asconventional loans, FHA loans, VA loans, and so on. After the borrowerenters the relevant personal and loan information required by the filetemplate and initial loan application form, a processing client executesan automatic data flow process to populate the same information in allof the corresponding fields in all other documents and forms processedby the system that are related to the loan application. This includesother related bank and government forms, as well as word processingdocuments, spreadsheets, and any other documents with fields that arelinked to the original form or other defined that same as the originalfields. If necessary, the processing client also automaticallycalculates relevant field data in any of the fields of the forms thatrequire derivation or calculation. These can include fields thatcalculate interest rates for given borrower profile and loan period andamount, as well as cash flow or amortization schedules, among othercalculations. Once the entry field information has been populated forall of the forms and documents, and the relevant calculations have beenperformed, the loan application documents are submitted by the loanoriginator to the appropriate lenders either directly or indirectlythrough the processing and submission server. Depending upon theinterface between the lenders to the network and/or the processing andsubmission server, the loan information is input into the lendercomputer systems as seamlessly as possible. For example, if theinterface between a lender and the network is web-based, such as theFreddie Mac Loan Prospector system, the information is populateddirectly into the lender web forms. This automated input anddistribution system eliminates the need to fill out individual disparateloan application forms, and transmit the forms to the various broker andlender sites.

As illustrated in system 100 of FIG. 1A, the interface system betweenthe lender computer 104 and the broker computer 102, referred to as the“clickloan” interface, serves to eliminate the complex loan file exportfunction and manual form-filing process currently required on lendingand vendor web sites. The clickloan interface is integrated into thelender's web site through clickloan module 114. This interface allows aborrower accessing the lender's web site through a normal web browser toidentify and transfer a loan application and associated data to thelender computer in an efficient manner. For example, through a webbrowser, such an operation can be typically accomplished by the user intwo mouse clicks.

FIG. 2A is a flowchart that illustrates the general steps of processinga loan application through the system illustrated in FIG. 1A, accordingto a method of the present invention. As a preliminary step, it isassumed that the borrower and loan application data is loaded into theloan origination system program 108 that is executed by the loan brokercomputer 102, step 220. The loan broker accesses the web site of theparticular lender that he is interested in, step 222. Typically, thelender web site provides a list or menu of operations that the brokercan perform, such as obtaining a loan quote, pre-qualifying a borrower,and so on. In step 224, the broker selects the action to be performed.For operations that require loan and/or borrower data, the clickloanmodule 114 instantiates within the browser to access the LOS pipeline,step 226. The clickloan module then creates an instantiation of the loanapplication object on the desktop of the loan broker computer 102through the broker web browser 106. In this step, 226, the clickloancomponent checks the software configuration of the broker computer 102and determines the location of the pipeline in the memory, typically thehard disk location, of the broker computer, and displays the pipelinethrough the web page displayed by web browser 106. This process isreferred to as an “instantiation” of the clickloan component.

After the object is created, the clickloan module automatically createsan LOS pipeline listing the various borrowers and loan applications thatare active within the loan origination system, step 228. In general, thedisplayed pipeline lists all of the pending loan applications for all ofthe borrowers being processed by the LOS program 108 in the brokercomputer 102. Alternatively, filters or pre-processing flags in whichthe LOS is actively running for only a particular borrower is beingprocessed can allow the pipeline to display pending loan applicationsfor only a particular borrower. Other filters can be defined to allowdisplay of pipelines for specific applications, such as time-based,status-based, or similar criteria. From the pipeline, the broker mayselect a particular borrower file, step 230. The clickloan moduletransmits the borrower data from the loan origination system to thebroker desktop through the web interface, step 232. Once the data ispopulated within the instantiation of the application object that iscreated on the broker desktop, the selected operation is executed, step234.

As is illustrated in FIG. 2A, the clickloan module 114 essentiallycreates an executable instance of the application on the broker computerusing data from the loan origination system program. The creation of theobject instance on the broker computer is implemented, in oneembodiment, through the web-based client/server relationship between thebroker computer 102 and the lender computer 104. FIG. 2B is a flowchartthat illustrates the transaction steps between the web server process ofthe lender computer, and the web client process of the broker computerfor the system illustrated in FIG. 1A, according to a method of thepresent invention. Upon access of the lender web page by the broker, thelender web server 112 transmits the HTML data comprising the web page tothe broker computer 102, step 240. The web browser process 106 on thebroker computer 102 then displays the lender web page, step 242. Thebroker web browser 106 creates an instantiation of the clickloan objectfor the loan application, step 244. The data comprising the object canbe either stored locally on the broker computer 102, or can be remotelydownloaded from a separate server computer 116. Once the pipeline iscreated and displayed, the broker selects the borrower file, step 246.The clickloan object accesses the loan broker desktop to retrieve,format, and submit the LOS data to the broker computer, step 248.

As discussed above, the lender web site is typically accessed by a loanbroker or originator using a web browser program. FIG. 3B is anexemplary web page for a lender Indy Mac™ Bank, according to oneembodiment of the present invention. The web page 300 includes a displayarea 302, which allows the user to specify one or more actions toperform. These include submitting an application for a new loan, lockinga rate for a new loan, viewing market conditions, and other suchactions. Also provided is a display area 304 that provides access toloan origination system programs that allows for the import of data fromvarious LOS programs that might be available. The lender web page 300provides a simple and familiar interface for the user to the LOSprograms linked to the lender. As loan applications are processedthrough the lender web site, information and relevant data are pulledfrom the LOS programs into the web site for processing and display tothe user. The main display area 305 displays data entry points andinformation related to the action that is selected by the broker.

Once in the lender web site, the broker can select a particular action,create a new loan application, or access an existing loan application.For operations involving existing applications, the broker specifiesdata to be imported from the appropriate LOS program using optionbuttons 304. Upon importation of the LOS data, the clickloan moduleautomatically creates and displays a pipeline of present loanapplications. Such a pipeline is illustrated in FIG. 3A in the maindisplay area 310. In one embodiment of the present invention, thepipeline is displayed in a spreadsheet format listing the borrower name,loan application status, loan officer/processor, and property (in themortgage). Each entry in the spreadsheet pipeline is a hypertext linkthat provides access to further loan application data pertaining to theborrower. Thus, if the broker clicks on a borrower's name, an objectcomprising the loan application is created, and the relevant data isdownloaded from the LOS program.

FIG. 3B illustrates the loan application page 305 for a particularborrower. The display area 305 displays certain items of information,such as loan number, borrower data, loan information, and so on. Thedata for each of the fields is automatically transferred from the LOSprogram by the clickloan module. FIG. 3B illustrates an instance of theloan application object that allows the broker to submit the loan forthe borrower. Once the data is imported, a simple click operation is allthat is required to submit the loan for approval. In this case, thebroker did not need to enter any additional data, as the clickloanmodule caused the data to be automatically transmitted from the LOSprogram.

The clickloan interface is configured to be used for any function thatrequires data transfer including pre-qualification, submission, ratelocking, settlement service ordering, or any similar type of operation.It can pass any data contained in the loan broker computer 102,regardless of the type of document format (e.g., 1003, 1008, GFE, orother type of form). In one embodiment, the clickloan module andinterface is integrated into the lender's web site as a self-containedcomponent and provides access to the loan application managementprogram, e.g., Genesis, Contour, and Calyx Point data being run on theloan originator computer.

In one embodiment, the clickloan interface is hosted by a dedicatedprocess within the processing and submission server. For thisembodiment, the clickloan module 114 can be implemented as MicrosoftActive X module that is downloaded one time to the lender web sitehosting computer. There is a separate component for each LOS hosted onthe loan broker computer 102. The clickloan module 114 displays the loanoriginator pipeline (loan selection panel) by reading the internal indexand borrower file or database structure of each loan originator, andpackages them according to the lender's data and format requirements. Asecure Internet protocol HTTPS is then used by the clickloan module tocommunicate with the lender's secure web server 112 as well as thebroker computer 102.

The integration of the clickloan module on a lender site is accomplishedthrough a basic three-step process. First the module determines the datacontent and format utilized by the lender. References to the clickloanmodule components are then incorporated on the lender's HTML pages. Datais then received in a standard HTTPS Post request. Two-way communicationbetween the lender web site and the loan originator is achieved via theweb interface. Lender 104 can post data back to the broker computer 102.

In one embodiment of the present invention, the clickloan module 114 isconfigured to support various formats, including FNMA 3.0 and XML, orsimply a list of name value pairs. On-demand installation and automaticupdate of the ActiveX components is also provided. The dynamic serverprocessing architecture illustrated in FIG. 1A allows the client side(clickloan module) process to diversify traffic to the broker computer,with all data mapping to the supported loan origination system performedlocally. The web page displayed to the broker can be configured toinclude a series of simple HTML links that provide access to the lenderweb pages.

FIG. 4 is a flow diagram that illustrates an implementation of theclickloan interface, according to one embodiment of the presentinvention. In step 402 the loan originator (broker) accesses the lenderweb site 130 through a resident web browser program. The broker selectsan action that requires loan originator data, step 404. This istypically accomplished by the broker clicking on a loan applicationselection button on the loan origination system web site, or accessinghis or her account information through the loan origination system site.If the action is an “on-demand” action, as determined in step 405, anon-demand installation and auto-update of the clickloan component 132 onthe lender's site is performed, step 406. The clickloan component 408then presents a pipeline to the broker, step 410. The loan product datacomprising the pipeline is provided by the loan origination systemprograms 118, as shown in step 418.

Data to be used in the loan application process, such as data relatingto the borrower, is provided by the processing and submission server,step 416. In step 412, the data is prepared and transmitted by the loanoriginator to the lender web server. This data can either be sentdirectly to the lender web server, as shown in step 414, or it can betransmitted indirectly through a clickloan server process within theprocessing and submission server 102, as shown in step 416.

FIG. 5 represents a more detailed flowchart illustrating the steps ofproviding an interface between loan origination servers and lendercomputers according to the steps illustrated in FIG. 4. In step 502, alender web page is referenced to a clickloan object processed by theclickloan module 118. This object is compiled to form a loan originationservice import page 503. In step 504, the browser checks if the objectis local and current. If not, the browser downloads the late version ofthe object from the clickloan server process within the processing andsubmission server 102, and stores the object on the LOS client, step505. The process then proceeds from step 506 in which the web browserpreserves a local pipeline and emulates the loan origination system toread the local configuration. In step 507, the borrower selects thebrowser file corresponding to the loan application.

In step 508 the clickloan module 118 locates the loan application file,extracts the user input and calculated data, and formats the dataappropriately for upload to the lender. This step may be facilitated bythe processing and submission server, such as for data entry, entryfield calculations, formatting operations, and/or file transmission tothe lender. Once the data is formatted, the destination address,typically a web page uniform resource locator (URL) address, of thelender web site is determined, step 510. The transaction is then loggedto the processing and submission server 102, step 511. Data from thesame application and submission session is also transferred from thedesktop to the processing and submission server, step 512.

As illustrated in FIG. 1B, the clickloan module is integrated within orotherwise closely coupled to the lender (or vendor) web site. A useraccessing the lender web site is provided a gateway to the loanorigination software program through the clickloan interface.

The first time a user (typically a loan originator) visits the wholesalelender's or vendor's web site, he or she indicates the installed LOS,which loads the corresponding clickloan module onto the user's harddrive. The clickloan module detects all installments of the selected LOSand each installation director is added to an “LOS Path” combo box.Alternatively, the user can select the appropriate LOS. The user selectsa path, and the file selection panel for the loans located at that pathis then displayed. The control is designed to default to the mostrecently selected path, and the next time the module is loaded, it willactivate that path. Every time another path, folder, or mode isselected, the clickloan module automatically updates the file selectionpanel to display the loans for the selected path.

In some situations the LOS package has been installed on the networkfrom one computer, but the computer on which the clickloan module isloaded has not done workstation installation. In this case the registryand initialization (INI) files will not contain any record ofinstallation paths. As a result, the combo box with path list will beempty and the clickloan control will display a message stating that theparticular LOS installation has not been detected. In this case, theuser must type the path to the network installation into the Path field.The clickloan module will determine the existence of the directory andthe LOS exact name of the installation path. A “browse” button can alsobe used to locate the installation directory. Once clickloan finds theLOS, it will immediately display the file selection panel.

After the first visit to the wholesale lender's web site, the user willtypically click the “Submit Loan from LOS” or a similarly labeled iconto submit a loan application. The system will create a pipeline reportindicating all of the loans currently in process. To submit a loan, theuser will highlight the loan and press the submit button at the bottomof the files selection panel, or simply double-click on the loan icon.

In one embodiment, the loan is exported to DU version 3 format, and anXML envelope is created. The DU3 file is put into “CDATA” section under<LoanData> tag. All the assigned properties (mandatory and optional)plus Transaction ID are listed under <property> tag. The format for asample XML file is as follows:

<?xml version = “1.0”?> − <ClickLoan_Envelope> − <Properties><VendorID>234375/<Vendor ID> <ActionType>1<Action Type><UserID>1234567</UserID> <IncompleteDataAction>2</Incomplete DataAction> <FrameName> SomeFrame</FrameName> <TransactionID>CL_{6567643E-AD19-4AEC-BACD  741E83A85576} </TransactionID></Properties> − <LoanData Format = “FNMA30”>  − <!CDATA  DU3 data goeshere  ]]>  </LoanData> </ClickLoan_Envelope>

Once the XML file is created, it is sent to the URL, mapped to theparticular Vendor ID and Action Type. As a response, the user receivesan HTML page displaying the status of the request or links directingthem further.

In order to integrate the clickloan module in the lender web site, thelender inserts the clickloan control into a web page using the <OBJECT>tag in the HTML page and referring to the ClassID of clickloan control.

The codebase attribute indicates where the CAB file is located. It isimportant to note that the version number has to be specified in theCODEBASE attribute, and it should correspond to the version of thecontrol. Every time the web browser (e.g., Microsoft Internet Explorer)navigates to the Web page, the version of the currently installedcomponent is compared to the version specified in codebase attribute. Ifcodebase version is higher, the new CAB file is downloaded andinstalled. Otherwise already installed clickloan control is loaded. Itis therefore generally necessary to update the version in codebase withthe current version number of the clickloan control.

In one embodiment, the clickloan CAB files are hosted on the loanorigination system server 102. All the vendors are provided with URLsfor these files, and the codebase attributes should point to those URLs.

Once the clickloan module has been inserted into a web page, there areseveral properties that need to be set by the hosting web page. To setthese properties, a set properties (SetProperties(BSTR PropName, BSTRPropValue)) function is made available to be used within the script tagof the web page. This function is called as a method of clickloan objectusing the name specified by ID attribute of object tag.

The following mandatory properties are set by the user once the controlhas been inserted: vendor identifier, action type, user identifier,incomplete data action, and frame name. The vendor identifier (VendorID)is the unique ID assigned by the loan broker computer 102 to everyvendor. The action type (ActionType) is an integer specifying whataction is being taken by that web page. This integer will map to the URLto which the date is to be submitted. For example, a loan submission canbe assigned action type 1, and loan registration can be assigned type 2.The vendor then specifies that for action type 1, the data is to beposted to one URL and for action type 2 the data is submitted to adifferent URL. The user identifier (UserID) is the ID used to login tothe lender web site.

The incomplete data action (IncompleteDataAction) variable tells theclickloan module what to do if the loan file being uploaded has missingdata according to DU file format requirements. If the property is set to0, the user is allowed to continue uploading the file despite somemissing data. This is the default, and in this mode the file would bechecked, and if any missing data were found, a list would be displayedto the user to help them locate the missing fields. The user will havethe option to continue the submission or cancel it. If this property isset to 1, the user will see a list of missing fields, however, there isno option for uploading incomplete files. If the property is set to 2,incomplete data warning and the list of missing fields will be ignored,and submission of the data will be allowed. Different loan originationsystem programs 118 may have different default settings for thisparameter. The frame name (FrameName) parameter specifies the name ofthe frame to which the resulting page should be targeted.

Besides the listed properties, other properties (XML nodes) can be addedto the XML file. For example PropName and PropValue can be assigned anyvalue that the user specifies. All these properties will be posted tothe lender site. In the XML structure, all these properties will gounder <Properties> node under the root element.

A sample web page program code for hosting clickloan control within alender web page is provided as follows.

<html> <head> <meta http-equiv = “Content-Type” content = “text/html;charset = iso-8859-1”> <meta name = “GENERATOR” content = “MicrosoftFrontPage Express 2.0”> <title>ActiveX Text Page</title> </head> <bodybgcolor = “#FFFFFF”> <p> <center> <object id = “ClickLoan” name =“Genesis ClickLoan Control” classid +″clsid:05842B)C-271B-412F-958F-D1A8F6CAD937″ border = “0” codebase =http://www.clickloand.com/EMActiveX/GenClickLoan.cab#version = 1,0,0,2width = “705” height = “425” </object> </center> </p> <script language =“VBScript”> ClickLoan. SetProperties “VendorID”, “00000001”ClickLoan.SetProperties “ActionType”, “1” ClickLoan.SetProperties“UserID”, “1234567” ClickLoan.SetProperties “IncompleteDataAction”, “2”ClickLoan.SetProperties “FrameName”, “SomeFrame” </script> <fontsize=”−2” face = “Arial,Helvetica,Verdana”> <center>&copy Copyright 2001<a href = “http://www.genesis2000.com”>Ellie Mae, Inc.</a> All RightsReserved. </center> </font> </body> </html>

The above example illustrated the integration of the clickloan modulewithin the Genesis LOS program. In one embodiment, the differentclickloan modules for each LOS are specified inside the OBJECT tag. Forexample, sample code for embedding the clickloan module into Calyx Pointand Contour is as follows:

Contour <object id = “ClickLoan” name = “Contour ClickLoan Control”classid = clsid:56BCB794-783A-48F1-A4C2-110F32371830″ border = “0”codebase =“http://www.clickloan.com/EMActiveX/GenClockLoan.cab#version+1,0, 0,2”width=”640” height=”425”> </object> Calyx Point <object id = “ClickLoan”name = “Point ClickLoan Control” classid +“clsid:DF05D910-DC8E-403A-93B0-5C866F3200D1” border = “0” codebase =http://www.clickloan.com/EMActiveX/GenClickLoan.cab#version =1,0,0, ,2width = “570” height = “400”> </object>

In one embodiment of the present invention, the loan origination systeminterface module for interfacing a lender computer to LOS programs on abroker computer can be implemented in conjunction with a server baseddesktop based loan application processing and submission server. Such asystem is described in co-pending U.S. application Ser. No. 10/172,844,entitled “Online System for Fulfilling Loan Applications From LoanOriginators.” FIG. 6 illustrates an exemplary network system forprocessing loan applications, according to this alternative embodimentof the present invention. As illustrated in FIG. 6, the LOS program orprograms resident on the broker computer 602 are also coupled to a loanorigination system computer 622. This computer executes several programmodules that manage the loan origination process and comprise theprocessing and submission system. These can include a business centerprocess 628, one or more back-end processes 630, and a data storagefacility 632. In one embodiment, the business center 628 contains anetwork interface that provides access between the loan originationsystem program and other entities. For the embodiment in which thenetwork comprises the Internet, the interface may be a web-basedinterface. In this case, the business center 628 includes a web browserclient process 606 executed on the loan broker computer. The back-endprocesses 630 comprise the processing and submission system servers thatprovide downloadable program modules to the loan origination programand/or perform calculations for the loan origination program. The datastorage facility 632 stores various data related to the lenders andusers within the system.

The business center process 628 within the data center 626 includes thesoftware module comprising a processing and submission system thatimplements business and processing logic modules for receiving loanapplication information from a borrower (such as 1003 data for mortgageloans), storing data related to the borrower, providing interfaces toprocesses utilized by lenders and other third parties that fulfill andsettle the loan. In one embodiment, the data stored by the data centeris used by the loan origination system programs 608 and provided to thebroker through the lender web site 612 for processing and display.

As illustrated in FIG. 6, the loan broker computer 602 is coupledthrough the business center process 628 to loan underwriters 648, andone or more settlement service vendors 644. These entities perform thefunction of fulfilling and settling the loan application. These entitiesgenerally access the loan origination system program of the brokercomputer through the web browser interface of the business center 628.The business center also provides facilities to set up storefront typeinterfaces for lenders to customize their offerings, and provides aninformation portal for brokers. Such a portal and storefront interfacemay be utilized by the lenders and/or vendors to generate and maintain aweb site presence on the Internet, such as through lender web site 612.

One or more of the loan underwriters 640 reviews the loan applicationand approves or denies the application. One example of a mortgage loanunderwriter is the Fannie Mae company, which does not itself provideloan funds but works with lenders to assure that the funds areavailable. Lenders 604 are typically banks, savings and loans, or otherfinancial institutions that provide the loan funds. The settlementservice vendors provide services and information required to close theloan. Such vendors include appraisers, credit reporting agencies,document preparers, flood certification agencies, and the like. Otherthird party entities that may be interfaced to the broker computer mayinclude loan servicers who collect monthly payments from the borrower,and other similar loan process companies. The lenders and vendors maymaintain web sites as a point of contact for brokers over the Internet.

The business center module 628 of the loan originator computer 622accesses one or more loan origination system programs 608. The loanorigination software programs 608 utilized by the loan broker can be aproprietary system or a commercially available system. Examples ofpresent commercially available loan origination system programs includeGenesis™, Contour™, Calyx Point™, and Byte™, as described previously,among other similar LOS programs. Alternatively, the loan broker mayutilize a standard Internet web site to interface with the borrower andprovide some degree of loan origination software functionality.

Operation of the loan origination system 622 for a loan applicationprocess initiated by broker 602 is described in the aforementionedco-pending U.S. application Ser. No. 10/172,844, entitled “Online Systemfor Fulfilling Loan Applications From Loan Originators,” which is herebyincorporated in its entirety by reference.

Although embodiments and examples of the present invention have beendescribed with reference to specific programming languages (such asHTML) and structures, it should be noted that alternative embodimentsmay be implemented using different languages and structures.Furthermore, although embodiments of the present invention have beendescribed with reference to a network implementation comprising theInternet and Internet-related web browsing and web serving technologies,it should be noted that alternative embodiments of the present inventioncan be implemented on many other types of networks and networkprotocols, such as proprietary protocols for local area networks, widearea networks, and any combination thereof.

The present invention has been described primarily in relation to loanapplications for personal home mortgage loans. It should be noted,however, that many other types of loans can be processed through theembodiments described herein, such as commercial loans, any type ofpersonal loan, home equity loans, and the like.

In the foregoing, a user interface system for processing and submittingloan applications through a network of loan originators and lendercomputer systems has been described. Although the present invention hasbeen described with reference to specific exemplary embodiments, it willbe evident that various modifications and changes may be made to theseembodiments without departing from the broader spirit and scope of theinvention as set forth in the claims. Accordingly, the specification anddrawings are to be regarded in an illustrative rather than a restrictivesense.

1. A system comprising: a broker device configured to execute a loanorigination computer program for storing and processing loan applicationdata regarding one or more borrowers; and a lender device including aweb server operable to serve at least one web page providing access toservices provided by an entity associated with the lender device,wherein the web page is accessible by a user through a web browserexecuted on the broker device; and an interface module initiated fromthe at least one web page served by the lender device, the interfacemodule configured to display, on the at least one web page served by thelender device, a list of loan applications in an interface that isconsistent with the loan origination computer program associated withthe broker device; extract loan application data associated with aselected loan application upon the user's initiation of a loan functionpresented to the user on the at least one web page served by the lenderdevice, change as necessary the loan application data to be compatiblewith the lender device, and retrieve the loan application data for theselected loan application from the broker device.
 2. The system of claim1, wherein the interface module is further configured to extract,validate, format, and deliver a loan application package utilizing theloan application data from the broker device to the lender through theat least one web page served by the lender device.
 3. The system ofclaim 1, wherein the interface module is further configured to readinternal index, user file information, database structure information,or any combination thereof from the broker device loan originationcomputer program and adapt the data contained therein to a formatcompatible with that required by the lender device.
 4. The system ofclaim 3, wherein the loan application package comprises a document typeselected from the group consisting of word processing documents,commercially formatted loan application documents, government specifiedloan application documents, spreadsheet program documents, orcombinations thereof.
 5. The system of claim 4, wherein the loanapplication package comprises data conforming with a loan selected fromthe group consisting of a federal housing authority loan, a veteransadministration loan, a home equity loan, a home refinancing loan, acommercial loan, or a conventional mortgage loan.
 6. The system of claim1, wherein the interface module is logically coupled to the loanorigination computer program through direct data structure access. 7.The system of claim 1, wherein the interface module is logically coupledto the loan origination computer program resident on the broker devicethrough an application programming interface.
 8. The system of claim 1,wherein the interface module is further configured to execute a loggingprocess on the broker device to store, on a memory coupled to the brokerdevice or on a memory of an external device, each user initiated accessto the at least one web page served by the lender device.
 9. The systemof claim 1, wherein the interface module is stored on the lender deviceor a separate server connected to the Internet as a downloadable programobject served by a server computer.
 10. The system of claim 1, whereinsystem is coupled by a network and to one or more third party servercomputers operated by at least one of a group consisting of loanunderwriters; correspondent lenders, or loan settlement service vendors.11. A computer program product for processing loan application data, thecomputer program product encoded in a computer readable medium andincluding instructions to: extract loan application data includingretrieving identification information for a loan application associatedthe loan application data from a broker device and displaying on thebroker device a list of loan applications available to process in aninterface that is consistent with a loan origination computer programassociated with the broker device; in response to command input from thebroker device selecting a loan application from the list of loanapplications, reformat loan application data for the selected loanapplication to a format compatible with that required by a lenderdevice; and transmit reformatted loan application data to a lenderdevice.
 12. The computer program product of claim 11, wherein thereformatted loan application data is formatted as a loan applicationdocument.
 13. The computer program product of claim 12, wherein the loanapplication document comprises a document type selected from the groupconsisting of word processing documents, commercially formatted loanapplication documents, government specified loan application documents,spreadsheet program documents, or combinations thereof.
 14. The computerprogram product of claim 11, wherein the reformatted loan applicationdata comprises data conforming with a loan selected from the groupconsisting of a federal housing authority loan, a veteransadministration loan, a home equity loan, a home refinancing loan, acommercial loan, or a conventional mortgage loan.
 15. A methodcomprising: providing to a broker device a web page from a lender website, wherein the web page is accessible from a web browser applicationexecuted on the broker device; upon receiving a selection from thebroker device of a loan submission function on the web page, displayingat the broker device within the web page a list of loan applications inan interface that is consistent with a loan origination computer programassociated with the broker device; upon receiving a selection from thebroker device of a loan application from the list of loan applications,changing loan application data associated with the selected loanapplication as necessary to be compatible with a serving device; andretrieving changed loan application data for the selected loanapplication from the broker device.
 16. The method of claim 15, whereinthe method further comprises: emulating a format of data storage andpresentation for the loan application data according to a loanorigination computer program associated with the broker device.
 17. Themethod of claim 16, further comprising: determining a format and contentof the loan application data; and conforming the format and content ofthe loan application data to a format and content compatible withinterface requirements of a lender device associated with the servingdevice.
 18. The method of claim 15, wherein the loan application dataincludes on-line loan application documents comprising a document typeselected from the group consisting of word processing documents,commercially formatted loan application documents, government specifiedloan application documents, spreadsheet program documents, orcombinations thereof.
 19. The method of claim 15, wherein the loanapplication data comprises data conforming with a loan selected from thegroup consisting of a federal housing authority loan, a veteransadministration loan, a home equity loan, a home refinancing loan, acommercial loan, or a conventional mortgage loan.
 20. A methodcomprising: using a web browser application executed on a broker deviceto access at least one web page from a lender web site; selecting atleast one loan submission function on the at least one web page toinitiate the execution of an executable object; displaying a list ofloan applications associated with the broker device obtained by theexecutable object from identification information retrieved from thebroker device on the at least one web page in a format consistent with abroker computer loan origination computer program; receiving a selectionof at least one loan application from the list of loan applications;retrieving loan application data associated with the selected loanapplication from the broker device and changing the loan applicationdata to a be compatible with a lender device associated with the lenderweb site; and providing the loan application data to the lender device.21. The method of claim 20, wherein the selecting at least one loansubmission function further includes downloading the executable objectto the broker device upon a first initiation of the executable object.22. The method of claim 20, wherein the executable object is stored onthe broker device.
 23. The method of claim 20, wherein the lender deviceis selected from the group consisting of a lender computer, a partnercomputer, an associate processor of data, or combinations thereof. 24.The method of claim 20, wherein the identification information andcompatible data format information are included in the executableobject.